Why MBA Admission Consultants Charge you by the Hour

Categories : Opinions

MBA Admission Consultant - Dont Waste TimeMBA Admission Consultant - Don't Waste Time

Last week, I visited a specialist doctor and discussed with him about being part of an Entrepreneurial venture that will allow readers to ask questions directly to doctors. The reply was interesting.

“I have no problem answering the questions but don’t show my details including my phone number. The queries should be filtered through your website.”

 I thought it was a fair request and loudly guessed his intentions.

“You don’t want to offer your consulting time for free?”

“No. It’s not about the consulting time, but this tendency to call doctors will be a nuisance and I don’t want my routine to be disturbed. In my opinion, those who call Doctors without fixing an appointment are hypochondriacs or don’t have anything to do.”

Early in our article about Picking the Right MBA Admission consultant, one of our advice was:

“When you sign up for 1-2 hours, try to get a feel for how flexible they are with the communication or appointment. Consultants who are too rigid or charge for extra seconds are not the right people that you should depend on.”

A recent encounter with an MBA Aspirant has forced me to clarify this advice. He is a career switching Entrepreneurial applicant with a low GPA. Unfortunately, he has less than 2 years of experience and expects to score 750 in the GMAT. What differentiates the candidate is his Entrepreneurial achievements. However, the consultant he is seeking advice has asked him to fake experience, and hide his Entrepreneurial achievements. This dilemma led him to call me and ask about his chances if he sticks to the truth.


Kellogg MBA Essay Guide

Writing about Leadership, the challenges you faced and the lessons learned can be tricky. You might not know where to start.

F1GMAT’s Kellogg MBA Essay Guide shares four leadership examples that you can use in your Essay #1 and a Sample Essay that you should read for inspiration.

For Essay 2, we demonstrate how to cite Kellogg MBA Curriculum as a growth tool. For creating an essay on how you have grown till now, use the 3-step structure and the Sample Essay as a template.

Download Kellogg MBA Essay Guide

Harvard MBA Essay Guide

Answering an open-ended Harvard MBA Essay question can be tricky. The Admission team has recommended that you as an applicant should not overthink or overcraft the essay. It is easier said than done. Without any outline or strategy, the free-flowing essay might not capture all the traits of your personality that would demonstrate that you are a good fit for the program.

To make it easier for you to write the essay, F1GMAT has created the 2017-18 Harvard MBA Essay Guide.

Through the Essay Guide, we demonstrate:

1) How to highlight your extroversion and passion
2) Your capability as a decision maker
3) Your active learning skills
4) Your communication skills

Explicitly demonstrating your four traits would be ineffective. You should know how to use positioning in your essays. We have included:

1) Six Positioning examples
2) Two Sample Essays
3) A detailed analysis of Harvard MBA Curriculum

Download Harvard MBA Essay Guide (2018 Entering Class)

RSM MBA - Scholarships & Funding Options

RSM MBA Curriculum -<br />
InterviewRead the Second Part of the Interview (RSM MBA - Post-MBA Opportunities, Brexit and Visa Rules) with the RSM MBA Director of MBA, Marketing & Admissions – Brandon Kirby.

In the third part of the interview, Brandon highlights the funding options available for RSM International MBA applicants and the entry criteria for the Full-time MBA program. 

What are the entry criteria for the RSM Full-time MBA program?

We require the GMAT for all incoming candidates. Our average varies class-to-class, but is generally around 650.
We do look for strong undergraduate GPA, especially in quant-based courses. However, poor undergraduate grades don’t immediately lead to a rejection. During the admissions process, we develop a great relationship with candidates, so we can have an in-depth conversation to address low grades.

The Dutch government requires an English proficiency test for all Chinese candidates as part of the visa application process. Otherwise, we do not require an English test, but if the admissions team feels that language is an issue, we reserve the right to ask a candidate to take such a test.

What are the various scholarships offered by Rotterdam School of Management?

Currently, we offer two types of scholarships at RSM – diversity and financial need based.

The average scholarship, when awarded, ranges from two-thousand to fifteen-thousand euros, with the average being seven-thousand euros.

For the diversity...

Berkeley MBA Curriculum - Analysis

The Berkeley MBA Program at Haas School of Business is a 24-month General Management program with Leadership as a foundational focus. Students develop the skills to think strategically and make decisions at operational and organization levels. Haas is among a very few top Business Schools that has clearly defined their guiding principle.

In fact, the school has four: Question the Status Quo, Confidence without Attitude, Students Always and Beyond Yourself, with an emphasis on thinking creatively – a skill, management professionals need to excel in the new economy.


The curriculum is structured on building General Management skills in the core and the option to focus on functional skills in the electives.

Experiential Learning in International Business, Non-profit, Entrepreneurship, and Innovation will expose students to the challenges that come with solving a real Business problem. Electives support student's ambition to pursue multidisciplinary interests and leverage UC Berkeley's innovative culture.

Haas MBA Core CurriculumYear One

The first year starts with a pre-term workshop on revising candidate's quantitative skills, followed by a 5-day introduction to the curriculum structure, student body activities, and a speaker series.

The core courses start with the theme of decision-making and leadership along with career planning workshops. Candidates are then introduced to Accounting, Finance, and Marketing.

During Winter Break, Global Study tours are organized. The spring of the first year...

How to Improve GMAT Reading Comprehension Score?

Categories : Reading Comprehension

GMAT RC Improve ScoreIn GMAT Verbal section, you have to answer 41 questions in 75 minutes, which means, you will get 1 minute and 82 seconds to answer each question. On an average, you will get 12-14 reading comprehension questions in GMAT. For the 700+ performers, GMAT reading comprehension is the best performing section. If you are planning to cross the 700 mark, focus on 100% accuracy in GMAT RC. Here are some exercises that will improve your reading comprehension:

1) Read from the Screen

This is a no brainer but many GMAT test takers get used to reading hard copies of GMAT study guides. In the actual GMAT test, you will be staring at a computer screen and noting down summary of passages. Even though you have a hard copy of the official Guide, get used to switching views between a monitor and a writing pad. You might think – “What is the big deal? I am used to staring at a monitor.” But you are not used to reading passages and answering questions about them in less than 2 minutes.

2) Read Dry Materials

If you have gone through a few GMAT RC practice questions, you will soon realize that the reading material is boring and you get quickly distracted. Practice for this scenario. When we are reading our favorite topic, we don’t need any effort to concentrate. But topics in GMAT RC are mostly from social sciences, physical or biological sciences and business related topics. For most MBA Aspirants, the Business related topics are easy to comprehend. You will get topics in marketing, economics, human resource management, and sales for Business related passages.

Here is a list of websites for some dry reading...

Top 20 MBA Programs - Tuition Fee (2017)

Categories : Top MBA

Top MBA FeeThe cost of an MBA is a crucial factor in selecting a Business School. The Tuition Fee is just one aspect of the Cost. Other components of the expense are Health Insurance, Administrative Service, Books, Rent and Utilities, Food, Personal, Transportation, Computer Allowance, MBA Association Fee and other membership fee. On an average other components of the Total Fee will add an extra $30000 to $40000 to the Tuition Fee. Find out means to Finance your MBA before shortlisting your target Business Schools.

We have selected top 20 Business Schools from Global MBA ranking and have listed the One Year Tuition Fee for each MBA program.
The costliest MBA program is Wharton MBA at nearly $147,268 Tuition Fee and the cheapest MBA program- IIMA, Ahmedabad is at $13,799(it can be cheaper than the quoted value if you take into consideration the Rupee fluctuation). It is not fair to list the program just by cost.

In fact you should use the Net Present Value to evaluate the Actual Return on investment. If you are eligible for scholarships and other external funding, a better way of looking at Cost of an MBA is by evaluating the potential return through post-MBA Salary and Employment Opportunities that an MBA provides.

Top 31 MBA Programs - Total Cost & Salary (United States)

Categories : MBA in USA, Top MBA

The return on investment for MBA programs is short-term. Anyone who spins the idea that in the long-term when you hit the mid-40s, the brand recall of the Business School will suddenly change your life is misleading you.

Best Post-MBA Salary

1.Stanford Graduate School of Business ($161,000)
2.Harvard Business School ($160,000)
3.NYU Stern School of Business ($156,717)
4.Darden School of Business    ($154,176)
5.Yale School of Management    ($154,000)

Stanford with $161,000 leads the 31 Schools on total Full-time MBA Salary, edging over the closest rival - Harvard by $1,000. NYU Stern, Darden, and Yale complete the top 5 list with a total median MBA salary that ranges from $154,000 to $161,000.

Most Affordable MBA

TC: Total Cost PMBAS: Post MBA Salary

1. Smeal College of Business (TC:$135,504  PMBAS: $113,500)
2. McCombs School of Business (TC:$137,964  PMBAS: $141,045)
3. Kelley School of Business (TC:$139,226  PMBAS:$132,000)
4. Broad College of Business (TC:$139,786  PMBAS:$115,800)
5. Carlson School of Management (TC:$140,694   PMBAS:$128,720)

Among the 31 Top US MBA programs, Smeal College of Business offers the Full-time MBA program with the lowest cost, joined by McCombs, Kelley, Broad and Carlson MBA programs. For the affordable MBA programs, McCombs has an equally impressive post-MBA total salary ($141,045) - highest among the five.

Costliest MBA Programs

TC: Total Cost PMBAS: Post MBA Salary

1. Foster School of Business (TC:$245,843 PMBAS:$140,030)
2. Columbia Business School (TC:$237,424  PMBAS:$150,000)
3. Harvard Business...

How to Calculate Return on Investment for an MBA (2017 Examples)

MBA ROI Based on Net Present ValueMBA Aspirants should calculate the return on investment before choosing one program over the other. We advise against shortlisting schools purely based on ROI, but when it comes to choosing your dream school, and say if you are stuck with two equally good ones - MIT and Stanford, LBS and INSEAD, a term commonly used by Finance professionals comes into consideration – Net Present Value.

What is Net Present Value?

Net present value is the net value of cash inflows and outflows for a period, based on the current value. The definition by itself can be a little confusing, but when you calculate Return on investment for an MBA program where your expense is calculated over 1-2 years, the investment and returns have to be calculated at current value.

Let us compare MIT vs. Stanford and find out which program offers a better return on investment. The data is based on the latest comparison between MIT Sloan and Stanford MBA program. You can download the data and analysis from our new book - How to choose the Best MBA in US: The Ultimate Guide
We have added the total cost for Stanford and MIT. We would use the same numbers for the 2nd year for easier calculation.

MIT- $100,514
Stanford- $109,218

For the post-MBA Salary, we captured the total median base salary.

MIT - $150,000   
Stanford - $161,000

What is the Formula for Net Present Value

Future Value = Present Value (1 + Rate of Interest) ^ n
Present Value = Future Value/((1 + Rate of Interest) ^ n)

Based on historical data from 1914 until 2017, US...

Apply the 12-10-10 Rule Before Selecting MIT Over Stanford, LBS Over Insead & Kellogg Over Booth

MBA Program Selection Apply this RuleSuzy Welch, Business Writer, for BusinessWeek has popularized the 10-10-10 rule. According to the rule, before making any tough decisions, ask three questions: How would you feel after 10 minutes, How would you feel after 10 months, and How would you feel after 10 years. We would like to modify the rule, by a touch, and apply it while selecting MBA programs: MIT vs Stanford, Wharton vs Harvard, Kellogg vs Booth, LBS vs Insead, IE vs IESE, and other close ones.

The 10 Minute impact of the rule seems a little stretched unless they are decisions like proposing to your partner, saying yes to non-refundable products, and other decisions where backtracking is not encouraged, or consequences are catastrophic. Although selecting MBA programs is a 1 month to 3-month process, the decision should be reviewed and changed if necessary after taking the GMAT Exam. Therefore, the GMAT preparation time becomes the first review point for your decision.

12-10-10 Rule

Once you pick the MBA programs during the Business School research phase (1-3 months), you have to start a GMAT Prep plan that lasts ideally for 3 months or 12 weeks. Class Median or Average GMAT Score becomes the target score for most test takers.

Scenario 1: Selecting Stanford MBA Program (...

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